July 2014
www.paramountcity.com
A STRONG CUSTOMER BASE … Besides our residents, Paramount has a large day-time workforce population, plus hundreds of thousands of people living within a 3-mile radius of the City.
PARAMOUNT 710
105
In fact, 21% of Paramount’s retail sales come from non-residents.
91 605
Last year, Paramount authorized a study to look at opportunities for economic growth within the City. The result revealed the size of the consumer population, certain retail segments with room for expansion, and more statistics that reinforce the fact that Paramount is a profitable place to locate a business. Here are some of those findings.
Demographic Highlights (2012)
Population: 54,000
15,940
Number of Workers Commuting to Paramount
17,326
Total Daytime Workers in Paramount
3-Mile Radius from Downtown Population: 328,000
Median age: 29
Median age: 30
Households: 14,000
Households: 89,500
Avg. Household Size: 3.9
Avg. Household Size: 3.6
Avg. Household Income: $53,000
KEY RETAIL INTERSECTIONS & TRAFFIC COUNTS 105
City Population
(Estimated annual population growth of 3% over next 5 years.)
Avg. Household Income: $57,000
105
1
4
6
RETAIL OPPORTUNITIES Residents spend the following amounts outside the city:
2 3
5
605
710 91
91
California
PMT1957
1. Rosecrans & Garfield:
4. Paramount & Rosecrans:
~53,303 AADT* 2. Paramount & Alondra
~49,027 AADT
Auto Dealers & Supplies ($19.1M Leakage)
Home Furnishings & Appliances ($15.4M Leakage)
Restaurants ($11.4M Leakage)
Apparel ($8M Leakage)
5. Alondra & Downey:
~51,182 AADT 3. Paramount & Jackson
6. Rosecrans & Downey:
(Downtown):
~40,425 AADT
~41,101 AADT
~51,182 AADT *Annual Average Daily Traffic 2008
Upcoming Meetings
2014
07/8/14 - 6:00 PM Planning Commission
WINNERS
07/15/14 - 5:00 PM City Council Meeting
Congratulations to this year’s recipients of the annual Paramount Pride beautification award. These property owners add to the quality of life in town by maintaining their homes with an attention to detail and attractive, pleasing visuals. This year’s winners were recognized by the City Council at its June 3rd meeting.
07/16/14 - 6:00 PM Parks & Recreation Commission 07/22/14 - 6:00 PM Public Safety Commission For more information about Council & Commission meetings, please call (562) 220-2225.
Madison St. 15336 Wiemer Ave. 8609 Madison St. 15523 Orizaba Ave. 15545 Gundry Ave. 7100
CityScape is published by the City of Paramount. Any questions or comments regarding this newsletter should be sent to City of Paramount, Administrative Services Department, 16400 Colorado Avenue, Paramount CA 90723 or call (562) 220-2027.
S o u r c e s : Ko s m o n t Re t a i l N OW ® P l a n S u m m a r y, Ma y 2 0 13 Lo c a l P r o fi l e s Re p o r t 2 0 13 — S C A G
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CITY OF PARAMOUNT